Sprouts Reports Second Quarter Growth

Phoenix, AZ—Sprouts Farmers Market, Inc., reported results for the 13-week second quarter ended June 30, 2019 in a press release.

Highlights include:

  • Net sales of $1.4 billion, a year-over-year 7% increase
  • Comparable store sales growth of 0.1% and two-year comparable store sales growth of 2.1%
  • Net income of $35 million, compared to $42 million from the same period in 2018
  • Diluted earnings per share of $0.30, compared to $0.32 from the same period in 2018

Gross profit increased 6% to $465 million—a decrease of 35 basis points compared to the same period in 2018, primarily driven by product cost inflation and a rise in distribution and transportation costs.

Fiscal year-to-date financial results showed an 8% increase in net sales compared to the same period in 2018, driven by strong performance in new stores and a 0.8% increase in comparable store sales.

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Chip Molloy, interim chief financial officer and board member of Sprouts Farmers Market, said in the release: “We are grateful to have Jack Sinclair join the Sprouts team as our new CEO and are confident his insightful grocery experience makes him well-positioned to strategically advance Sprouts’ unique model and improve its performance as the brand expands its footprint.”